Practice Standards for Beacon
Electronic Timber Sales

 This Practice Standard has been drawn up by Beacon Forestry following consultations with representatives of all sides of the forest industry and has been agreed by the Forestry Commission, Timber Growers Association and the UK Forest Products Association.

Beacon Forestry’s Practice will be in accordance with the Code of the Central Association of Agricultural Valuers and the Guidance Notes issued by the RICS for the Sale of Real Estate by Auction in England and Wales

1. Pre-Sale Information

   Catalogues will wherever possible be made available four to six weeks prior to a sale.

   The description of each lot will be a matter for the vendors and/ or their agents.

   The description of each lot will be as accurate as possible.

   The method of the timber measurement will be declared in the catalogue.

   Terms and Conditions of sale will be determined by the vendor and Beacon Forestry and these will be available at the time the sale catalogue is made available.  Any special conditions will be identified in the catalogue with the details of the lot.

   Vendors should advise the auctioneer of any potential purchasers who they deem to be unacceptable at the time they submit details for inclusion in the auction catalogue.  This information will be passed to potential purchasers if they express an interest in purchasing a particular lot or lots.

TENDER  SALES

2. Conduct of Tender Sales

Tender offers may be submitted at any time up to the date and time for the closing date for tender offers given in the catalogue.

Beacon Forestry will not access any tenders lodged on the central computer until after the closing date and time for lodging tenders has passed.

All tenders lodged with Beacon Forestry will be notified to the vendor or his agent as soon as possible after the closing date and time for tenders.

All tenderers will be notified of their success or failure as soon as possible after the vendor or his agent have informed Beacon Forestry of their decision.

The tenderer has the right to withdraw his/her offer seven days after the tender date if the vendor has not notified Beacon Forestry of the sale outcome.

3. Post Sale Procedures for Tenders

The name of the successful tenderer, but not the price tendered, will be declared separately on the Sale Summary screen as soon as possible after the vendor has notified Beacon Forestry.

 AUCTION  SALES

4. Conduct of Auction Sale

These will be conducted in accordance with the Sale of Goods Act 1979 and 1994 and local bylaws as amended.

The conduct of an electronic sale will be in accordance with normal auction practices unless otherwise stated in this Practice Standard. .

If a technical fault occurs with the main computer which interrupts the electronic bidding procedures, the sale will be halted and restarted within one hour, otherwise the auctioneers will re-schedule the sale for at least seven days later or some other time mutually agreed with potential purchasers.

Lots which are unsold may be re-entered at the end of the sale at the request of the vendor.  All potential purchasers on the system at the time will be advised by the auctioneer as soon as possible after this decision is made with a message on the screen.  Vendors may alter the reserve before re-entering the lot.

5. Conditions of Bidding at Auctions

   Reserves will be set by the Seller for all lots unless specifically stated otherwise in the description of the lot in the catalogue.

   Vendors or their agents (except the auctioneer) should not be allowed to bid in the auction;  and, if proved to have done so, the sale of that particular lot could be annulled, provided the purchaser agrees..

   The auctioneer may bid on behalf of the vendor up to one increment below the reserve price but will not bid once the reserve for the lot has been reached in accordance with current law. 

   In the event of the above the auctioneer will only advance the bidding by one increment above the last competitive bid and the auctioneer’s bid will be identifiable on the screen.

   A purchaser will only be required to pay the amount clearly identified on the screen as being accepted by the auction system.

   Lots which do not reach the reserve are shown as unsold.

   Lots which equal or exceed the vendor’s reserve are sold once the auctioneer indicates this on the screen.

   A sale contract is entered when the last bid is registered on the computer screen as being accepted by the auctioneer.
    

6. Arbitration at Auctions

   Any disputes concerning the professional conduct of an auction will be referred to the President of the Central Association of Agricultural Valuers.

   Any disputes concerning the subsequent timber sale contract are a matter for the vendor and the purchaser and not the auctioneer.
    

7. Post Sales Procedures for Auctions

   The purchaser’s name and the price paid for each lot sold during the auction will be displayed separately on the Sale Summary screen immediately after each lot is sold together with the designation of the under bidder (trade or vendor).

   For unsold lots the designation of the last bidder (i.e. trade or vendor) will also be displayed separately on the Sale Summary Screen.

   The post-sale procedures for issuing invoices and payment terms will be set out in the sale catalogue and will be followed by all parties.

GENERAL

8. Timber Sale Terms & Conditions for Standing Timber and Logs
    

9. The Terms and Conditions under which the standing timber and logs are offered for sale are a matter for the vendor, but all vendors are encouraged to use the sales contracts recently agreed by Forest Enterprise and the UK Forest Products Association.
    

10. Complaints

    Any complaints over the conduct of tender and auction sales should be addressed directly to the partners in the first instance.